European Stocks Likely To Open On A Weak Note

RTTNews | Před 1012 dny
European Stocks Likely To Open On A Weak Note

(RTTNews) - Markets in Europe are seen opening on a cautious note on Thursday, ahead of key central bank reviews and major economic data releases. Interest rate decisions by Bank of England, European Central Bank and Swiss National Bank are due on Thursday.

Sentiment would also be shaped by Wednesday's FOMC outcome. Though the Fed acted on expected lines to hike interest rates by 50 basis points, the accompanying guidance and commentary was more hawkish than feared, with peak rates raised to 5.1 percent, from 4.6 percent earlier.

The hawkish Fed commentary dragged the Wall Street lower on Wednesday, with the Nasdaq Composite shedding 0.76 percent to close at 11,170.89 and the Dow Jones Industrial Average dropping 0.42 percent to finish trading at 33,966.35.

The negative sentiment reverberated in the European markets too and by close of trading on Wednesday, Germany's DAX lost 0.26 percent, France's CAC 40 dropped 0.21 percent, U.K.'s FTSE 100 declined 0.09 percent and the pan-European Stoxx-600 edged 0.02 percent lower. Switzerland's SMI however advanced 0.22 percent.

Current indications from the European stock futures also portend a weak opening on Thursday. The FTSE 100 Futures (Mar) is currently trading 0.13 percent lower. The DAX Futures (Dec) is currently trading 0.36 percent lower. The CAC 40 Futures (Jan) had closed 0.87 percent lower on Wednesday.

American stock futures however indicate a minor rebound. The US 30 (DJIA) index and the US500 (S&P 500) are both up 0.1 percent.

Asian stock markets are trading mostly in the red zone amidst anxiety following the Fed's hawkish rate warning. South Korea's KOSPI is trading 1.24 percent lower. Hong Kong's Hang Seng has dropped 1.14 percent. Australia's S&P ASX 200 has declined 0.64 percent. India's Nifty 50 and Japan's Nikkei 225 have both lost 0.44 percent. China's Shanghai Composite is trading 0.3 percent lower. New Zealand's NZX 50 has however gained 0.28 percent.

The hawkish rate warnings by the Fed, lifted the Dollar and the Dollar Index (DXY), a measure of the Dollar's strength relative to six currencies. DXY is currently at 103.90, gaining 0.13 percent. The EUR/USD pair decreased 0.22 percent to 1.0658 whereas the GBP/USD pair dropped 0.23 percent to 1.2393.

Amidst the Fed's indication of a higher peak for interest rates and the Dollar's mild rally, Gold Futures for February settlement plunged 0.86 percent to trade at $1,803.00 per troy ounce.

The hawkish Fed guidance stoked fears of an economic recession, dragging down both the crude oil benchmarks. WTI Crude Futures for January settlement has decreased 0.85 percent to $76.62, whereas Brent Crude Futures for February settlement has fallen 0.69 percent to $82.13.

In addition to the key interest rate decisions, other economic data releases due on Thursday are Wholesale prices (November) from Germany, Business Confidence (December) from France and Inflation Rate Final (November) from France.

read more
Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian stocks turned in a mixed performance on Monday as investors wondered how U.S. President Donald Trump's crackdown on immigration will reshape the world's largest economy in the short and long term.
RTTNews | Před 25 minutami
Dollar Edges Up After Fed's Cautious Rate Cut

Dollar Edges Up After Fed's Cautious Rate Cut

The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of 6 currencies edged up during the week ended September 19 amidst a cautious rate cut by the Federal Reserve as well as status quo by Bank of England and Bank of Japan.
RTTNews | Před 54 minutami
European Shares Seen Mostly Lower In Cautious Trade

European Shares Seen Mostly Lower In Cautious Trade

European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.
RTTNews | Před 3 h 30 min
China Leaves Key Interest Rates Unchanged

China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.
RTTNews | Před 3 h 41 min
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Monday, but adding to the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,800.00 level, with gains across most sectors led by mining and financial stocks.
RTTNews | Před 5 h 38 min
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as the recent interest rate cut decision by the US Fed and the forecast by Fed officials of two more rate cuts this year but just one next year, continue to lift market sentiment. However, major currencies in the region weakened against the US dollar. Asian markets closed mixed on Friday.
RTTNews | Před 5 h 58 min
Sensex, Nifty Set To Open Lower After Trump's Visa Crackdown

Sensex, Nifty Set To Open Lower After Trump's Visa Crackdown

Indian shares look set to open lower on Monday, with tech stocks likely to be in focus after U.S. President Donald Trump signed an executive order slapping an additional fee on H-1B visa holders, potentially impacting profitability and prompting companies to rethink hiring strategies.
RTTNews | Před 6 h 34 min